Intelligently Handling Money: Learning More about the Benefits of Smart Safes

    Jan 02 2014

    In the world of handling currency, the safe, as well as money counting machines, is an old staple that countless people across hundreds of years have used to protect their valuables. Of course, today's safes don't look much like the older, historic versions you’d find on displayat the Early Office Museum. For the modern banker or business owner, having something with a little more functionality and security, like a smart safe, can go a long way toward handling money, checks, and other financial items in an efficient and effective manner on a daily basis. 

    Start with the Basics

    Before going any farther, what exactly is a smart safe? These devices, much like standard offerings, seek to safeguard financial content with a locking mechanism attached to a strong and durable infrastructure. However, things get considerably different after this point when comparing the two. A smart safe adds hi-tech functionality that achieves a variety of tasks simultaneously that can benefit not only you as the owner, but also the customers or users of the machine. Think of this device as a reverse ATM that repurposes the incoming information to provide you with the tools you need to reach new levels of success and transparency.

    The Provisional Credit Connection

    At the core of this hi-tech approach is the imaging technology used by these safes to capture and transmit information and data related to the incoming currency. Much like a money counting machine, this type of safe can also count out incoming funds, which leads to a concept known as provisional credit. Under this agreement, as noted in a white papercommissioned by ATMmarketplace.com, your financial institution can issue you credit instantaneously based on these incoming funds, giving you more flexibility and control of the budget management process.   

    Reducing Costs

    Another major point of bringing in a smart safe in place of your standard money counters and cash holders, is that it can make a major impact on your finances by reducing costs. Taking a glance back at the aforementioned white paper helps shed some light on this process in a variety of different ways. First, having the smart safe count and sort your currency and checks, then transmit them to your bank, cuts down on your required armored car visits. While these visits seem commonplace now, your budget will definitely enjoy the savings as these trips drop to a less frequent role in your operations.

    The other savings come in the form of avoiding errors and reducing employee time expenditure. Having your staff spend hours every day counting and sorting currency can not only eat up vital time and work hours, but can also lead to miscounts and shrinkage in the inflow of cash. To cut these issues out of your operations entirely, a smart safe handles these tasks automatically. With this process serving as a strong replacement to the manual option, you can rest assured your money is in the right hands, and your counts are accurate every time.

    Andrea Lombardi

    Andrea Lombardi

    Andrea joined the CashTech team upon its inception in 2003. Learning the business from the ground up, she now utilizes her expertise in account management, planning, and negotiation while managing the daily operations of CashTech’s sales, marketing, and logistics departments. Andrea holds a bachelor’s degree from the University of Western Ontario. She enjoys travelling and has a passion for personal fitness, including obtaining her kettlebell certification. Andrea lives in Toronto with her husband and two young sons.

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    CashTech Currency Products Inc.
    1040 Cardiff Boulevard
    Mississauga ON, L5S 1P3

    905.696.0733